Nasdaq futures rise Fed speaker in focus.

Fundamental Overview

Tuesday saw an increase in U.S. stock futures, helped by lower U.S. Treasury yields, as investors digested remarks from Fed officials and kept an eye on the status of the Israel-Hamas conflict.

Nasdaq 100 futures climbed 50 points or 0.3%.

The major Wall Street indexes ended the day higher on Monday, reversing early losses, helped in part by dovish remarks from Fed officials who hinted that a recent increase in U.S. bond yields would make future interest rate hikes less necessary.

On Monday, Dallas Fed President Lorie Logan suggested rising Treasury yields could prevent the Fed from making any rate rises, while Fed Vice Chair Philip Jefferson said the bank could “proceed carefully” in determining whether any other increases are necessary.

As trading in the U.S. bond market reopened following Columbus Day, this was accompanied by a decline in yields, with the benchmark 10-year U.S. Treasury yield falling from its 16-year top on Tuesday. This was due to a combination of these remarks and the desire for safe assets due to the unrest in the Middle East.

NASDAQ 100 Technical Analysis Daily Chart:

Technical Overview

Nasdaq 100 is currently trading within an up channel.

Nasdaq 100 is positioned above all Moving Averages (SMA).

The Relative Strength Index (RSI) is in the buying zone, while the Stochastic oscillator suggests a positive trend.

Immediate Resistance level: 15235.81

Immediate support level: 15055.42

How To Trade NASDAQ 100

Following a price increase, the Nasdaq 100 began to consolidate in a range. Right now, pricing is trying to move upward after taking support from its previous support area. Price is currently moving in a zone of resistance; if this zone is breached, additional upward movement may be possible.

TRADE SUGGESTION- STOP BUY– 15274.9, TAKE PROFIT AT- 15485.1, SL AT- 15118.9.